Exceptional 4-UNIT BOYLE HEIGHTS INVESTMENT — $985,000 / APPROX. $299 PER SF and just $246,250 per existing unit! There is potential for 46% more gross rental income and 7.0% stabilized cap at the $985K asking price. Current rents totaling approximately $4,767.80 per month with upside to $8,800 per… Read More month. That increases the gross scheduled rent ($57,214 annual to approximately $105,600 annual. An increase of roughly $48,386 annually.
The biggest growth opportunity is in converting existing garage space into 2 ADU-conversions to bring in up to an additional $1,800 per month totalling $3,600 per month in additional income. The property goes from $8,800/month in projected market rent to $12,400/month 4+2 adus stabilized annual rents: $148,800/year. You will have approximately a 10.15% cap rate at $985,000.
The seller has completed substantial capital improvements during ownership, including a copper plumbing re-pipe approximately six years ago, upgraded electrical panel, exterior painting, roof maintenance, replacement of two tank-style water heaters and remodeled bathrooms in two units. The property has four separate electric meters and four separate gas meters. The major systems are set and ready to go. Overall, the property has been well maintained, reflecting pride of ownership, and offers significant rental upside potential. Read Less
Property listed by Real Brokerage Technologies, BRIAN NGOY 626-773-8181
Listing Snapshot
Days Online
25
Last Updated
Property Type
Quadruplex
Beds
8
Full Baths
4
Square Ft.
3,288
Lot Size
0.11 Acres
Year Built
1963
MLS Number
WS26189528
Additional Details
Building
Built in 1963, Living area: 3288.0, Living area units: SquareFeet, 2 stories, Levels: One, Two, Entry level: 1, Entry location: 1
Based on information from California Regional Multiple Listing Service, Inc. as of and/or other sources. All data, including all measurements and calculations of area, is obtained from various sources and has not been, and will not be, verified by broker or MLS. All information should be independently reviewed and verified for accuracy. Properties may or may not be listed by the office/agent presenting the information.
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